NEW YORK, Jan 30 The dollar strengthened and
global equity markets rebounded on Thursday after data showed
the U.S. economy with plenty of momentum in the last quarter of
2013, boding well for continued growth and strong corporate
earnings.

The rouble hit record lows against the euro early in the
session, while the rand slid to multi-year troughs before
rebounding. Moves earlier in the week by Turkey, South Africa
and India to staunch capital flight had failed.

Emerging market currencies have felt the heat ever since the
U.S. Federal Reserve said it would begin to trim its stimulus, a
program that has injected more than $3 trillion into the U.S.
economy and world markets since the financial crisis.

The initial reading of 3.2 percent growth in U.S. gross
domestic product for the fourth quarter, combined with the 4.1
percent pace in the third quarter, resulted in the biggest
half-year increase since the second half of 2003.

The strong GDP number, in line with economists'
expectations, led equity markets in Europe to turn around and
stocks on Wall Street to open higher. U.S. stocks advanced
broadly, with the Nasdaq composite rising more than 1 percent.

The dollar gained against a basket of currencies, the appeal
of the greenback revived against the safe-haven yen and Swiss
franc.

"There's a lot of concern over what's happening overseas but
in the domestic (U.S.) market GDP was pretty strong," said Cam
Albright, director of asset allocation at Wilmington Trust
Investment Advisors in Wilmington, Delaware. "If you see growth
in the economy pointing to higher earnings growth, that will
give markets more confidence in the United States."

The Fed, as expected, said on Wednesday it will cut its
monthly bond purchases by $10 billion in February to $65 billion
as policymakers saw less need for stimulus through the
quantitative easing program.

"The end of QE is an indication the economy is getting
better, though I'm not sure the market has entirely transitioned
to that idea yet," Albright said.

The dollar was up 0.73 percent against a basket of
currencies at 81.092.

The euro fell 0.81 percent against the dollar at
$1.3553, while against the yen, the greenback was up 0.46
percent at 102.75.

On Wall Street, the Dow Jones industrial average rose
166.14 points, or 1.06 percent, at 15,904.93. The Standard &
Poor's 500 Index was up 24.50 points, or 1.38 percent, at
1,798.70. The Nasdaq Composite Index was up 83.50
points, or 2.06 percent, at 4,134.94.

In Europe the pan-regional FTSEurofirst 300 index
of leading companies closed up 0.3 percent at 1,294.26.

Gold fell more than 2 percent, on track for its biggest
one-day drop in more than a month, as the robust U.S. GDP data
and the Fed's decision Wednesday to keep trimming its stimulus
boosted the dollar and led traders to cash in gains in the
metal.

U.S. gold futures for February delivery were down
$18.20 an ounce at $1,244.00.

Brent oil rose to just over $108 per barrel and U.S. crude
reached its highest in a month on bitter cold in the United
States, which has boosted heating oil demand.

Brent crude was up 16 cents to $108.01 a barrel.
U.S. crude was up 92 cents at $98.28.

The U.S. bond market retreated following Wednesday's rally,
but some of the money leaving equities found its way into the
developed world's government bond market.

German Bund futures rose 33ticks to settle at
143.23, while German 10-year yields fell to 1.62
percent, their lowest in nearly six months.

Benchmark 10-year Treasury notes were last down
11/32 in price to yield 2.7132 percent.

Dec 9 A former Cantor Fitzgerald trader has been
indicted on charges that he defrauded investors by lying about
the price of mortgage bond transactions he handled for them
after the financial crisis, U.S. prosecutors said on Friday.

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